S&P 500, Nasdaq Turn In 6th-Straight Record Close
Stocks finished the day mostly higher, boosted by the Fed's unhurried stance on hiking interest rates and upbeat jobless claims. The Dow sat out today's gains though and logged a 33 point loss, snapping a five-day streak of record closes. Meanwhile, the S&P 500 and Nasdaq both soared to their sixth-straight record close. Elsewhere, Wall Street's fear gauge, the Cboe Volatility Index (VIX) earlier fell to its lowest level since July, but ultimately finished the session higher.
The Dow Jones Average (DJI - 36,124.23) shed 33.4 points or 0.09% for the day. Merck (MRK) tacked on 2.1% to lead the list of Dow winners, and Dow (DOW) fell 3.2% to pace the laggards
The S&P 500 Index (SPX - 4,680.06) added 19.5 points, or 0.4% for the day, while the Nasdaq Composite (IXIC - 15,940.31) tacked on 128.7 points, or 0.8% for the day.
Lastly, the Cboe Volatility Index (VIX - 15.44) added 0.3 point, or 2.3% for the day.
OIL PRICES FALL DESPITE OPEC'S OUTLOOK PLAN
Oil prices eased a little more today, falling after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) reiterated plans to continue with their current outlook plan. Despite recent multiyear highs in the price of black gold, and pressure from the Biden administration, the organization has decided against loosening taps and increasing production. For the day, December-dated crude shed $2.05 cents, or 2.5% to settle at $78.81 a barrel.
Gold prices, meanwhile, soared amid the Fed-induced tailwinds from yesterday. Further boosting bullions appeal was a decision by the Bank of England to keep on with dovish monetary policies. As a result, December-dated gold added $29.40 or, 1.7%, to settle at $1,793.50.
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